In a report by ABC News, FBI Director James Comey may be establishing a name for himself as he declares that he holds solid evidence against Chinese government criminals for spying and stealing from American companies. He claims that the evidence will hold up in court. That is exactly what we need to see with the Chinese present to bear witness if they would like to participate with legal representatives. Fair and free trade is at stake here, and a whole lot more.
The fact is that China owns Americans right now. They hold our notes. We are indebted to China, and we don’t have sufficient funds to cover our increasing debt. Now, every time that the US wants to exercise foreign policy in the world, the nation must look over its shoulder to seek permission because the Chinese are essentially loaning the money for that. It is not a joke and this is no exaggeration.
First, the rule of law and legal process must be completed as allegations are not a conviction. If the case is successfully prosecuted, then we can address damages and the penalty.
With regard to the damages committed against US companies and the national economy, one might hope that resulting from the legal process, the court can help determine and assess the damages. Since the alleged criminals in this case are Chinese government officials, the damages would be assessed against the Chinese government. Eventually, the US government could claim a debt reduction owed to the Chinese in a specified amount, and we taxpayers would have legal footing to not pay them.
Since the damages from alleged Chinese government actions are harmful to specific US companies, some relief and offset may be afforded those companies eventually. However, because some of the companies are small, they may fail before an offer of relief could be made.
All of this is speculation by an analyst as a desirable scenario. The most desirable scenario would be for the Chinese government and US government to find more common ground. Crime and cheating will not be the foundation for a positive trade relationship. We have a long way to go as the cultural divide is as wide as the ocean between here and there.
“FBI Director Tells ABC News Whether the US Has the Goods on China
May 19, 2014
By Pierre Thomas
FBI director James Comey speaks during a news conference at the Phillip Burton Federal Building in this Feb. 27, 2014
FBI director James Comey sat down for an exclusive one-on-one interview with ABC News today during which Comey spoke at length about the charges announced against Chinese military officials for alleged hacking of U.S. businesses.
Asked why the United States decided to draw the line now, Comey said: "The conduct is so pervasive, and now so long-standing, that we thought it important to bring this tool to bear."
"We're not gonna stand for this conduct," he added.